Fed watchdog reports renovation failures, rules out criminal referral
The inspector general’s report found failures in renovation work but no reasonable grounds to believe federal criminal law had been violated.
The Federal Reserve’s inspector general found failures in renovation work at the central bank, but concluded there were no reasonable grounds to believe federal criminal law had been violated.
The long-awaited report, reported by CNBC on Wednesday, stops short of recommending a criminal referral.
The available information does not describe the specific failures, the report’s scope or the evidence behind its conclusions.
The findings distinguish problems in the renovation work from evidence of a criminal offence: the watchdog reported failures, but found no reasonable grounds to believe federal law had been broken.
